Anyone who is over the age of 18 could benefit from an estate plan or at least a will. They can take control over what happens when they die or if they experience some kind of incapacitating emergency. Such steps are crucial for an individual’s financial protection and the well-being of those who depend on them.
Still, many otherwise responsible adults will use any excuse they can think of to avoid estate planning. They claim they will draft documents after they have their last child or buy a house. Unfortunately, some people never correct this questionable choice and will die without a will or other estate planning documents to guide the distribution of their property or provide for their dependence.
Why is it such an issue if someone dies without a will?
Without a will, state law takes control
Someone who dies without a will has died intestate. Ohio has state laws in place for this exact scenario. The probate courts will guide the distribution of assets in accordance with these laws.
Spouses and children are usually the ones to inherit, although parents and other family members will inherit the assets left behind by an unmarried individual without children. In the rare situation that someone has no surviving family members, their property would eventually belong to the state of Ohio.
You have the right to decide for yourself what will happen with your assets when you die, but only if you take the time to create documents that comply with Ohio state laws. Understanding what happens if you die without a will could inspire you to finally create an estate plan.